ddabetsmallwinbig
8 years ago
Does Cybercrime Really Cost $1 Trillion?
https://www.propublica.org/article/does-cybercrime-really-cost-1-trillion
Gen. Keith Alexander is the director of the National Security Agency and oversees U.S. Cyber Command, which means he leads the government’s effort to protect America from cyberattacks. Due to the secretive nature of his job, he maintains a relatively low profile, so when he does speak, people listen closely. On July 9, Alexander addressed a crowded room at the American Enterprise Institute in Washington, D.C., and though he started with a few jokes — his mother said he had a face for radio, behind every general is a stunned father-in-law — he soon got down to business.
Alexander warned that cyberattacks are causing "the greatest transfer of wealth in history," and he cited statistics from, among other sources, Symantec Corp. and McAfee Inc., which both sell software to protect computers from hackers. Crediting Symantec, he said the theft of intellectual property costs American companies $250 billion a year. He also mentioned a McAfee estimate that the global cost of cybercrime is $1 trillion. "That’s our future disappearing in front of us," he said, urging Congress to enact legislation to improve America’s cyberdefenses.
Follow link for whole article
ddabetsmallwinbig
8 years ago
Cybercrime agreement to be signed by global leaders
By Alexander J Martin, Technology Reporter
Global leaders are preparing to agree how police access digital evidence which may physically be located in another jurisdiction.
The amendment to the Budapest Convention on Cybercrime will allow signature states' police forces to receive digital evidence in criminal investigations in a timely manner - something those forces complain is currently a major problem.
Since the opening of the convention in 2001, the importance of internet media to criminal investigations has grown significantly.
While data can traverse borders effortlessly over the internet, police have complained about struggling to follow it due to conflicting laws about whether they can access data which may physically reside in data centres outside of their jurisdiction.
The head of the Council of Europe's cybercrime division, which led the development of the treaty, Alexander Seger spoke to Sky News to explain the need for the protocol.
He said: "The problem is, when you're looking for evidence on a computer system, that evidence could be held on a single server in another country, or it could move between servers, or the data itself could be fragmented and held in different jurisdictions."
This makes it very difficult for the police to address a single judicial authority with the legal ability to demand that this evidence be handed over.
Mr Seger also said: "Let's assume that law enforcement in the UK arrests a drug trafficker in London, and at the time of the arrest, the suspect's smartphone is open - can you access that data?
"Assume they use Gmail, can you access that, or any of their cloud accounts, or are you intruding on the territory of another party? Are you seizing data in another territory?"
"This isn't clear, and while some law enforcement agencies will do this, others have received judicial criticism for it," said Mr Seger, and police do not want to risk evidence being found to be inadmissible in court.
At the moment, when police forces around the globe need to work with those in another jurisdiction, they use Mutual Legal Assistance Treaties, or MLATs.
However, the MLAT process, which allows evidence and information in criminal investigations to be shared, has been criticised for being extremely slow.
Mr Seger said that even something as simple as receiving subscriber data - finding out which individual was using a particular communication service - was difficult when it should be routine.
The protocol to the Budapest Convention would specifically address subscriber information and allow police to pursue suspects with more haste.
"We (also) need emergency procedures for full access to data in the face of threat to life," Mr Seger added.
At the time of the Charlie Hebdo attacks in France, the French authorities were able to access information on the suspects from the Americans very quickly, as the US has adequate emergency procedures in place, he said.
"Only the US has these in law," he went on.
x1power
9 years ago
If one studies the HACK ETF chart . . . one wonders if we are not just being confronted with 'normal' new IPO sell-off? Without robust cyber-security investing by vulnerable companies that have naked consumer-client info storage, retail investors are left to the mercy of HF Quants and Funds adjusting their EOY holdings positions. Funds only invest if they feel there will be stock volume action to justify their accumulating holdings. That ETF volume in HACK is not apparent at this time in its history.
Note that Dell just announced it is buying/partnering with EMC and Value Ware SW. If HACK buys into this merger to balance out with this new SW giant that will also be in Cyber-Security SW . . . what will happen to HACK ETF stock holding portfolio?
Dell and EMC did this as both are losing in the sales/competition game. I do not expect great things from this merger.
I will just kind of watch for now, and maybe, buy some more HACK in coming 6 months time frame.
I suspect most other HACK investors are thinking along my thought line.
Just to me . . . it is looking like HACK gets day-traded and we slowly continue a down-sloping TA charting.
HACK is therefore, perhaps best looked at as buy-and-hold lT strategy.
MSFT W10 is the bases of next gen anti-virus SW with user-photo ID to go online, finger-print and VOX-operated recognition online permission allowance (to come). The very rudiments of Cloud user data storage is AI super-computer banks analysis of user and what they are accessing. Its going to be increasingly impossible for small hacker to penetrate Cloud Storage of User Data.
However; the very point of cyber-security investing is you have to have 'business' (meaning bad boys) being successful hackers.
And, if we throw in, new nation-to-nation mutually helpful security agreements into the equation; it will
be second-trier cyber-aggressor national groups that can only accomplish hacking. Such a scenario may not produce great stock value action potential? <---Who, after all, has the fastest AI super computers.
OT: Whoever 'sold' Clinton on the idea a private server would be safe . . . must also be selling shares in Bridges and Sandy Hook beach property?
x1power
9 years ago
The latest info I have seen in an artl. about surveys at technology conferences of professionals, is that 2016 will not see the expected huge investment by corporations in cyber-security equipment funding. I guess corporations are expecting to get W10 and consider that a security upgrade. The other possibility, is a number of new mergers will be used as an excuse to claim 'we are working diligently to prevent security intrusions'.
I have no idea what buy-outs and mergers will do to effectively 'plug' security holes in the business world. Seems
a very round-about method of confronting cyber-attacks ( I guess . . . if we have less number of businesses, it easier to defend).
Right now . . . tax-payers are paying for tax-write-offs for losses to cyber-crime. That makes it 'all right'? It an insurance cost.
We have ending up with cloud storage of data . . . but no one has claimed out-right this will stop hackers. Its now becoming apparent the investments will be in the cloud AI computer scanning banks, that in-turn, just scan the 'cloud personal and corporate data banks records' for suspicious activity.
Everyone is selling 'the cloud data option' as so efficient and effective to commerce.
That's really great . . . but there is THIS PROBLEM . . . the cloud was created to enable the next step in The Net-ing of the World into one happy and productive family. This NWO isn't happening. Its a Pipe-Dream unless we consider active AI to be our rulers? Cause our little pea-brains cannot keep up with what the Super AI system is enacting for us.
Oh my . . . S--t City is before us.
We simply are going too fast into a future we can't comphrend.
This basic logic bomb is a wrench-in-the-works.
We are just human . . . not meant to be perfect.
But we can smile and keep going.
I doubt AI 'smiles'.
Humans end up having to live with what they do . . . they may not like it . . . but they accept it as 'life'. I am saying AI computers will find Asimov's Sci-Fi 3 Rules of Robotics . . . example of . . . Robotics cannot bring harm to humans, blank achievements in their output . . . when they (the AI) must defend themselves from perceived human error.
We should be asking ourselves . . . why would sane or happy folks 'hack' for entertainment? Even more germaine . . . what if the hacking causes 'losses' and harm to the Greater Community?
It seems very odd that hacking systems for personal or group or cause, can 'blow-back' on the very safety of the criminals who have to live with the effects of the 'hacked' and changed system.
Getting back on track of where our HACK ETF stock is going to go, up/down/or just roughly level . . . what a coin toss. It seemed such an efficient and potentially method to profit-ride the hacking wind blowing. Is it? Or, has it hit Bubble Ceiling territory? Is the new sexy trend ETF, in the end unable to deliver?
How goes The TA Chart . . . have we lost our 'gas'?
If the new economy to be exploited is electronic fencing in the dark . . . where are we to hide as we await the answer to electronic crime?
A problem I have discovered is that ETFs do not seem to show much (if any) gain from one company buying another. As one goes up , the other goes down and vanishes into the buyer: roughly net canceling perhaps until the merger works out. We have to invest in a HACK ETF, as the way to play the fast changing slate, of who will rule the hacking game. I guess its just like the S&P500 . . . you buy and ride the tide.
x1power
9 years ago
It may be impossible to initiate 'the internet of things', if you can't trust your WIFI-ed bread toast while you are gone from the house? End-of-the-month electric bill is hugely higher, as someone outside the house has turned everything on while you were away. Do not even get me started on Driver-less cars, that vanish from in front of your house. And, the strip teams have compromised your online in-vehicle security locator.
This represents a Wonderland for Cyber-Criminals.
The FED isn't even focused on how this eventuality will turn their T-Bonds re-purchases upside down.
Massive new market for HACK ETF stocks, as corporations and government forced to continually update their SW back-door KEY entrances.
The internet is basically toast until all world governments cooperate and hackers have no place to operate from and hide.
You, of course, have taken note how world governments and corporations do such a smash-up job of economic cooperation?
Witness our worldwide race-to-the-bottom via 1930s devaluation one-ups-man-ship.
W10 MSFT new software has some nice cyber-protective additions to it . . . if you pay upscale for fingerprint ID. and other cyber-security. However; we still have the problem that new hires paid lower wages and not domestic citizens . . . are potential spies-for-hire in-siders.
Another big problem not addressed properly is how to prevent hacker entrance to server cables and systems ID info obtained from Face Book accounts.
A lot of big corporate monies are soon to visit some of our HACK cyber-security stocks, either as equipment orders or buy-outs to bring their expertise in-house? That's my bet.
x1power
9 years ago
That's a fine question to ask.
As price of oil goes . . . so goes the market and the dollar?
A lot of stuff coming up in next 30-90 days (federal new year budget for example, new school year, and soon next holiday season sales).
I bot install by professionals of Win10 on my Win8.1 laptop.
Everyone is talking about how MSFT will be observing my keystrokes and room environment as I type.
One might ask in return . . . what's new therein?
Maybe MSFT can give me some pointers on how to keep my desk ordered and neat. Call my health plan and get someone out for a home visit, and shape me up! :) Best of luck! <---I am trying!
Slow learner . . . He does not 'train' very well . . . does he.
Note that Cisco is part of HACK ETF.
Has way more 'fire power' ($$s of revenue and employees) than Fire Eye. Yet . . . FEYE is roughly @X the stock price of Cisco. Go figure. And, one guess who has more DOD and Govt. contracts?
This gets me to thinking . . . where will next cyber-security stock company 'bubbles' keep coming from? Small company stock IPOS and little investors are cut out of those, but not HACK.
Israel cyber companies in our HACK and the action will pick up in ME. All those Arab 'students' in EU and USA will start cyber-attacks, as they go home to Mommy countries. That's a sure bet.
Business will grow.
Massive super-computers and The Cloud of Things will also be driving everyone to increase cyber-security. The bad guys on limited budget will cluster a bunch of small independent home and mobile computers vi software hookups, to create their version of cheapo super-computers (but won't be as fast. Drone will be brought into all this by both sides as antenna router systems, for defense and attack. The big boys will win consistently.
Which equates to more cyber-security $$s for both large and small
HACK fund companies. I doubt anyone single person trying to guess the direction of stock results, could have a change to pick the winning cyber companies on their own.
My HACK philosophy is just hold and when HACK or CYBR ETF fall quite a bit in stock price . . . buy some more. We are at the inflexion point that folks were that rode up the internet and Apple, MSFT stock debuts.
HACK is a speciality (sp) Sector ETF and hopefully the dividend yield improves.
My estimate is HACK will generally follow the S&P 500 direction (which seemingly is down over next 30-90 days) and still awe us all with counter-moves in price due to 'events' beyond our insight and control. <---I do not think anyone can day-trade HACK except the big boys, nor successfully short it. But what do I really know?
x1power
9 years ago
Looking like FEYE executive leaving, is kind of an IPO expert and takes his 'cake' when the 52 week high range happens? And, some one (or more) of the big holders decided to 'play' too.
What can and will happen is buy-outs in the cyber-security field.
We holders of HACK are basically covered, as FEYE is one amongst many Cyber SW and expertise holdings of our ETF.
If one thinks about it . . . events like intro of WIN 10 security upgrades and now BRRY increasingly focusing on cyber-security; will just keep happening and it will be HACK that will benefit as these new cyber forces are added to our ETF holdings.
Outside forces (like Iran treaty) will be what drives our stock price. Few understand that USA and EU have knighted Iran to be the balancer in the Middle East. Iran is the most technically competent Arab nation in ME. Western nations have 'bot' Iran into favorable status and will be selling vast amounts of goods and services to them. Iran is surrounded by 'competing states' and we wanted their contracts to prime our economies. We rise together or fall into 100 year war scenario. Both parties in USA will publicly huff-and-puff and lament . . . but the 'big show' will go on . . . helped by Iranian contracts. In turn, Iran will not attack EU or USA and will actually be helping us through 'hidden' agreements in tech, etc.
Major USA and EU investments in Cyber-tech buys coming.
HACK will be there. I still am expecting stock price to +25-100% in next administration. And, there is no deficit in an electronic economy that is backed by resources, huge land mass, growing population, and powerful military. To my way of thinking . . . we are in a new form of socio-economic historical organization (call it NWO, Sky Net AI or whatever).
Did you all see the new map of USA cyber-attacks by foreign entities? One can ponder 'why;' such info was 'released' to the general public. Maybe to drive new funding.
Another thing . . . HACK companies are really part of new cyber-security system army, that is on-duty 24/7. The electronic ether net is the new endless battlefield.
x1power
9 years ago
I would think it will as time passes.
CIBR has roughly the same stocks in it, but they are in different
%s of invested monies (called 'weighted' ETF investment choices emphasis).
What we must watch now as investors, is how INTC, Cisco, and other large corporations in data storage security and client servers (example IBM) enter the cyber security business.
Windows 10 is prime example of this: cloud-based super computer storage of personal and business data. The question is now will we all 'take' to MSFT pushing us into cloud data storage? Would DOD move to Win 10?
Roughly 20% of world of data is still using XP software.
this incudes DOD, banks, and hospitals. Geepers . . . wonder how hackers got our data!
Looking much like heavy investing by the large folk in new forms of cyber protection, is coming to a computer near you and me. Which ever political entity gains the election victory, huge man power and equipment and SW investing is on the way. Those 90K DOD lay-offs may be countered by cyber-troops in both public and private employment. The Fat Lady hasn't sung yet.
Just my concept: but what would be wrong with bringing a new form of the Military Draft into existence that drafts our young men and women into alternative service in tech firms, with their college degrees and pays them equivalent to military tech grade personnel, pay scale? We can grow a cyber-army that can kick butt, reduce unemployment, get tax revenues up, re-shore USA business, upgrade infrastructure concurrently as new capital is sited, and pay down student debt.
And, of course, HACK ETF would ride this wave, and increase in stock price value.
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